Endowment returns for fiscal year 2023 are up 7.7 percent according to the latest study by the National Association of College and University Business Officers and Commonfund. That marks a reversal of fortunes after returns fell by 8 percent in fiscal year 2022.
The endowment report, released today, found that despite a difficult start to fiscal 2023, institutions rebounded sharply, which an accompanying press release attributed to “strong returns in public equity markets globally” during the last nine months of the year. Though a marked improvement over FY 2022, the latest returns fell far short of those achieved in FY 2021, when the average endowment increased by 35 percent.
